Moneycontrol PRO
HomeNewsBusinessMarketsTaking Stock: Sensex slumps 523 points extending losses to the 5th session

Taking Stock: Sensex slumps 523 points extending losses to the 5th session

News flow from the warfront in Israel shows that conflict is escalating with every day passes. Now bombarding at the Syria front has also started apart from the Lebanon front.

October 25, 2023 / 17:47 IST
The 50-share NSE Nifty fell 159.60 points or 0.83 percent to 19,122.15.

Domestic benchmark indices logged the fifth straight losing session on October 25 amid worry of escalating tensions in the Middle East and rising US bond yield that may result in more fund outflows from India.

News flow from the war frontin Israel shows that conflict is escalating with every day passes. Now bombarding at the Syria front has also started apart from the Lebanon front.

The 50-share NSE Nifty fell 159.60 points or 0.83 percent to 19,122.15. BSE flagship Sensex plunged 0.81 percent or 522.82 points to 64,049.06.

"Investor sentiment is on edge as tensions in West Asia continue to drag the market," said Vinod Nair, Head of Research at Geojit Financial Services.

"Despite a drop in oil prices and an optimistic view of the progressing Q2 results season, investors took a cautious approach due to the expectation that a higher interest rate scenario would continue slowing future growth. However, a positive strategy is evident on large-cap stocks, amid growing geopolitical worries and valuation concerns in mid- and small-cap stocks, as overall earnings growth is being sustained."

Stocks & Sectors

Broader market also saw selling. Nifty Smallcap 100 closed down 0.24 percent, recovering from day’s low, and Nifty Midcap 100 slipped 0.65 percent. The broadest index in the market, NSE 500 fell 0.76 percent.

Barring Nifty PSU Bank that rose 0.17 percent and Nifty Metal that climbed 0.15 percent, all sectoral indices closed with losses. Nifty Media slumped 1.66 percent, followed by Nifty IT that dropped a little over 1 percent.

IndexPricesChangeChange%
Sensex84,562.7884.11 +0.10%
Nifty 5025,910.0530.90 +0.12%
Nifty Bank58,517.55135.60 +0.23%
Nifty 50 25,910.05 30.90 (0.12%)
Fri, Nov 14, 2025
Biggest GainerPricesChangeChange%
Eternal303.756.00 +2.02%
Biggest LoserPricesChangeChange%
Infosys1,502.80-39.00 -2.53%
Best SectorPricesChangeChange%
Nifty PSU Bank8399.9096.85 +1.17%
Worst SectorPricesChangeChange%
Nifty IT36301.30-378.10 -1.03%

Among Nifty 50, Tata Steel rose 1.08 percent, followed by Coal India, Hindalco Industries, Tata Consumer and SBI were other gainers that rose up to 1 percent. Top losers were Apollo Hospitals, Adani Enterprises, SBI Life Insurance and Cipla that fell 2-3 percent.

Outlook for Oct 26

Ajit Mishra, SVP - Technical Research, Religare Broking

Nifty has breached the lower band i.e. 19,200 of the broadening formation and now the next crucial support comes at 200 EMA, which currently lies around 18,830 levels. And, it also coincides with the neckline (breakout) area of the previous consolidation range. Meanwhile, global cues and the scheduled expiry of October month derivatives contracts would add to the choppiness. Traders should align their positions accordingly and prefer index majors over others.

Ruchit Jain, Lead Research, 5paisa.com

Our markets have recently seen a corrective phase mainly because of some negative news flows in the global markets which has led to some volatility in the global indices. Also, last four months of rally has mainly been supported by FIIs buying, while they have refrained buying equities in this month so far. However, the index futures data has started to improve as FII’s covered some of their short positions due to which the ‘Long Short Ratio’ has improved marginally from 40 percent to 45 percent in last couple of sessions.

The market breadth has been positive in this corrective phase and the midcap index has been trading at its all-time high which is a good sign. Nifty has ended around the crucial resistance zone of 19650-19700 which if surpassed, then the indices would resume their uptrend and could again march towards new record highs. On the lower side, 19500 will be seen as immediate support on the weekly expiry as the put option at this strike has seen decent open interest build up. On a positional basis, 19500-19400 is now an important support range.

Rupak De, Senior Technical analyst at LKP Securities

The Nifty has faced selling pressure for a second consecutive day, leading to a close below the crucial support level at 19,200. Furthermore, the index has closed below its significant moving averages, signifying a bearish trend. The immediate support stands at 19000, with the highest open interest in put option contracts, while resistance is expected in the range of 19,250-19,300, as indicated by substantial call writing during today's trading session.

Shubham Raj
Shubham Raj has six years of experience covering capital markets. He primarily writes on stocks with special focus on F&O and PMS-AIF industry.
first published: Oct 25, 2023 04:03 pm

Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Subscribe to Tech Newsletters

  • On Saturdays

    Find the best of Al News in one place, specially curated for you every weekend.

  • Daily-Weekdays

    Stay on top of the latest tech trends and biggest startup news.

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347